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Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
 After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Massive discounts offered by the repair facilities and aggressive commercial strategies are still present, while in most cases a reduced maintenance program is followed by Owners.
Shipping companies show almost no flexibility to the extend of service suggested by repair yards, trying to maximize the efficiency and effectiveness in all repair dilemmas such as deviation cost, way and extend of repairs, dry-docking timing. On the other hand, shipyards are trying and to control contractors’ cost in order to handle this negative downturn by minimizing the overtime cost, while at the same time they are providing sophisticated solutions as an ultimate way to tackle competitiveness. As a result of the above situation was the bankruptcy of well established subcontractors after offering good service for decades. The repair market is also facing a slight increase on the afloat and underwater works that are being carried out at anchorages. This is also the result of accumulated low-level maintenance during the previous years and the softer number of dry-dockings this year.
As far as the Greek market is concerned, Chinese yards remain on top of Owner’s choice. If we divide the Chinese region into three areas – south, middle and north – increase on the Greek share is witnessed in the FUJIAN HUADONG shipyard in south China, the XINYA shipyard in the middle Zhoushan area and SHANHAIGUAN shipyard in the northern part. The remainder of the southern shipyards seem to have focused into more niche markets like gas and oil carriers, with the majority of their customers coming from North Europe. A very common choice for the Greek market remains to the COSCO group of shipyards as well and particularly COSCO Zhoushan. Since the merge of COSCO with CIC CHINA SHIPPING a few months back, there has been no visible change in the repair market. For the time being, both groups are maintaining separate commercial headquarters with COSCO tendering unified for all the shipyards and CIC individually. Saying that, as far as the presence of both companies in the Posidonia exhibition is concerned, both groups were sharing the same booth.
Apart from China, Singapore and MEG shipyards are leading the niche vessels’ repair market. Following the merger of ex ‘Sembawang’ with ex ‘Jurong’, the competition between the two major groups, KEPPEL and SEMBCORP MARINE in Singapore remains fierce, resulting in significant discount from both sides. With the discounted prices offered by Singaporean yards and the overall proven expertise in terms of efficiency, quality and time, this region has also attracted the attention of Owners with conventional types of vessels when projects are free from major steel renewal. In Europe, Turkish shipyards are expanding their dry-docking capacity by purchasing new floating docks, with the millstone of a new VLCC dry-dock, which is doubling the capacity of the existing VLCC docks in the region. Finally, following the Turkish shipyards expansion, a new Brazilian shipyard in Vitoria with facilities to accommodate up to Capesize/Suezmax vessels is about to start its operation heating up the competition within the existing local regime.
Following up on recent trends, we can say that the laying up scheme has faded as a result of dry bulk freights covering marginally their OPEX and most of the laying up anchorages have been getting slimmer. As far as the ratification of the forthcoming ballast treatment regulations is concerned, with the exception of rumors, no solid policy has been announced yet, while the shipping market reaction to such ratification remains disputable.
By Vassilis Vassiliou
Ship-repair Broker, Interyards S. A.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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